STAMP TAX ACT — 법갈피

Article 1(Duty to Pay Tax) #

(1) A person who prepares a contract for the creation, transfer, or change of a right, etc. to an asset or any other documents certifying such transaction in the Republic of Korea is obligated to pay the stamp tax on the documents pursuant to this Act. <Amended on Dec. 31, 2022>

(2) Where two or more persons jointly prepare a document, the persons preparing the document are jointly obligated to pay the stamp tax on the document.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on Jun. 9, 2020>

1. The term "certificate" means a contract for the creation, transfer, or change of a right to an asset or any other document prepared to certify such transaction;

2. The term "passbook" means a document bound in the form of a single document to enter recurrent transactions therein.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 3(Taxable Documents and Amount of Tax) #

(1) Documents that require payment of the stamp tax (hereinafter referred to as "taxable documents") and the amount of tax for each document shall be as follows: <Amended on Jan. 1, 2014; Dec. 30, 2017 Dec. 31, 2018; Aug. 27, 2019; Mar. 31, 2020>

The UTPR percentage of the Republic of Korea = (A/B x 50/100) + (C/D x 50/100) A: The total number of employees of each local constituent entity of the relevant MNE Group B: The total number of employees of all the constituent entities of the relevant MNE Group located in a country that has a Qualified UTPR in force C: The sum of the net book values of tangible assets of all the local constituent entities of the relevant MNE Group D: The sum of the net book values of tangible assets of all the constituent entities of the relevant MNE Group located in a country that has a Qualified UTPR in force

(2) If a taxable document under any subparagraph of paragraph (1) is a passbook, the appropriate stamp tax shall be paid in relation to each book, whereas if a taxable document is not a passbook, the appropriate stamp tax shall be paid in relation to each set.

(3) An electronic document defined in Article 2 of the Framework Act on Electronic Documents and Transactions (excluding electronic documents specified by Presidential Decree, such as bonds defined in subparagraph 1 (b) of Article 2 of the Act on Electronic Registration of Stocks and Bonds, which meet all the requirements under Article 59 of the same Act and are electronically registered; and hereinafter referred to as "taxable electronic document") shall be included in taxable documents under the subparagraphs of paragraph (1). <Amended on Jun. 1, 2012; Jan. 1, 2014; Dec. 31, 2022>

(4) A taxable document under any subparagraph of paragraph (1) shall be categorized according to its actual contents, irrespective of the name given thereto.

(5) Except as otherwise provided for in paragraphs (1) through (4), matters necessary for determining and categorizing taxable documents shall be prescribed by Presidential Decree.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 4(Calculation of Stated Amount) #

(1) If a taxable document falling under any provision of Article 3 (1) 1 through 3, 5 or 6 has no amount stated thereon, the amount under any of the following subparagraphs shall be deemed the amount stated thereon:

1. Where it is possible to calculate the amount with descriptions on the relevant taxable document: The amount so calculated;

2. Where it is impossible to calculate a stated amount in accordance with subparagraph 1: The minimum stated amount under Article 3 (1) 1.

(2) Except as otherwise provided for in paragraph (1), matters necessary for the calculation of a stated amount shall be prescribed by Presidential Decree.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 5(Annexes) #

Where the content of a document is supplemented by one or more other documents (hereinafter referred to as "annexes") to form a single contract, such annexes shall be deemed taxable documents certifying the contents of the contract: Provided, That the foregoing shall not apply where a document under Article 3 (1) 7 is supplemented by such documents and other cases specified by Presidential Decree.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 6(Non-Taxable Documents) #

The following documents shall be exempt from the stamp tax: <Amended on Mar. 2, 2016; Jun. 9, 2020>

1. A certificate or passbook prepared by the State or a local government (including an association of local governments; the same shall apply hereinafter);

2. A certificate or passbook prepared for dealing with the National Treasury;

3. A certificate submitted to the State or a local government for a donation to a public project;

4. A certificate prepared by an organization for charity or relief in connection with its activities;

5. A certificate of the transfer of ownership of a residential house with a stated amount of not more than 100 million won;

6. Acceptance or guarantee of a bill;

7. A duplicate or certified copy of a security under Article 4 (1) of the Financial Investment Services and Capital Markets Act;

8. A certificate of a consumer cash loan with a stated amount of not more than 50 million won;

9. A certificate of goods for the exclusive use of postal service under the Postal Service Act;

10. A certificate required and prepared for the procedure for a transfer, where a parcel of land or other property subject to the Act on Acquisition of and Compensation for Land for Public Works Projects is transferred to the State, a local government, or any other corporation established pursuant to a Special Act;

11. A monetary stabilization bond issued by the Bank of Korea pursuant to the Bank of Korea Monetary Stabilization Bond Act;

12. A bond issued by an international financial institution specified in the Act on the Measures for the Admission to International Financial Institutions or a certificate prepared in connection with the issuance of such a bond.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 7(Documents Jointly Prepared by the State) #

With regard to documents prepared jointly by the State, a local government, or an organization specified in subparagraph 4 of Article 6 (hereafter in this Article referred to as "State or a similar authority") and a counter-party and kept by each party, a document kept by the State or a similar authority shall be deemed to have been prepared by the counter-party, while the document kept by the counter-party shall be deemed to have been prepared by the State or a similar authority.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 8(Payment) #

(1) The stamp tax shall be paid by affixing electronic revenue stamps for paper documents under Article 2 (2) 1 of the Revenue Stamp Act (hereinafter referred to as "electronic revenue stamps") on a taxable document: Provided, That affixing electronic revenue stamps for paper documents may be substituted by paying an amount equivalent to the appropriate amount of stamp tax and indicating on the taxable document the fact that the stamp tax is paid, as prescribed by Presidential Decree. <Amended on Jan. 1, 2014; Dec. 30, 2014>

(2) The stamp tax on a taxable electronic document shall be paid by the method referred to in the proviso of paragraph (1) or by any other method prescribed by Presidential Decree. <Amended on Dec. 31, 2022>

(3) A person who is obligated to pay stamp duty pursuant to Article 1 shall pay stamp duty by the 10th day of the month following the month in which the tax document is prepared: Provided, That in cases prescribed by the Presidential Decree, such as where a tax document is prepared using an e-procurement system referred to in Article 12 of the Electronic Procurement Utilization and Promotion Act or an internal e-procurement system pursuant to Article 14 of the same Act, stamp tax shall be paid on the date of preparation of the tax document. <Amended on Dec. 31, 2022; Dec. 31, 2023>

[This Article Wholly Amended on, Jan. 1, 2010]

Article 8-2(Determination or Correction) #

If a taxpayer obligated to pay the stamp tax fails to pay it under Article 8 or the amount of tax so paid is less than the amount payable, the head of the competent tax office or the commissioner of the competent regional tax office shall make a decision to determine or correct the amount of tax not paid or the amount of tax paid less.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 8-3(Refund or Deduction of Amount of Tax) #

(1) Unless a taxable document is prepared after the amount of stamp tax is paid pursuant to Article 8, the amount of tax already paid shall be refunded or deducted from the amount of tax due.

(2) Necessary matters regarding the procedure for application for refund under paragraph (1) shall be prescribed by Presidential Decree.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 8-4(Special Exemption to Payment) #

Notwithstanding the provisions of Article 8, the Commissioner of the Korea Intellectual Property Office shall collect the stamp tax on a certificate of the transfer of a patent right, a utility model right, design right, or trademark right, among intangible property rights under Article 3 (1) 5, and pay it to the competent tax office by the payment deadline and in the payment method prescribed by Ordinance of the Ministry of Strategy and Finance.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 9(Recalculation of Amount of Tax) #

Where a stated amount is changed after a taxable document referred to in Article 3 (1) 1 through 3, 5 and 6 is prepared, the amount of stamp tax shall be calculated, as prescribed by Presidential Decree.

[This Article Wholly Amended on, Jan. 1, 2010]

Article 10(Cancellation of Stamp) #

Where an electronic revenue stamp for paper documents is affixed on a taxable document in accordance with the main sentence of Article 8 (1), a person who prepares the taxable document shall cancel the stamp by entering the fact that an electronic revenue stamp for paper documents is used into the information communications network provided by an electronic revenue stamp agency (referring to a website selling electronic revenue stamps) pursuant to Article 3 (2) of the Revenue Stamp Act. <Amended on Dec. 30, 2014>

[This Article Wholly Amended on, Jan. 1, 2014]

Article 11(Question and Inspection) #

(1) Where a tax official in charge of administrative affairs of the stamp tax deems it necessary for an investigation into the stamp tax, he or she may inquire or inspect a taxpayer of the stamp tax or a person who has a transaction with a taxpayer with regard to a taxable document. <Amended on Dec. 31, 2018>

(2) Where a tax official in charge of administrative affairs of the stamp tax inquires or inspects pursuant to paragraph (1), he or she shall not abuse the authority beyond the scope necessary for performing the duties. <Newly Inserted on Dec. 31, 2018; Jun. 9, 2020>

[This Article Wholly Amended on, Jan. 1, 2010]

Article 12 #

Deleted. <Oct. 1, 2010>